Arafura is going all in to become a sustainable supplier of neodymium-praseodymium (NdPr) with a range of initiatives aimed at helping meet this goal.

The company has applied to join both the UN Global Compact and the Initiative for Responsible Mining Assurance (IRMA) as well as seeking for an ancillary mineral lease for the construction of a solar farm to reduce gas consumption.

Arafura Resources (ASX:ARU) managing director Gavin Lockyer says the commitment to the sustainable development and operation of Nolans is a core principle and goal of the company.

“This first step represents our commitment to an unending journey of striving to leave the world a better place than before we started,” he added.

To meet its sustainability goal, the company plans to focus on:

  • Greenhouse gas emissions and climate change;
  • Water consumption and management;
  • Management of wastes and hazardous materials;
  • Health and safety of employees;
  • Indigenous people and local participation;
  • Supply chain management;
  • Diversity and employee engagement;
  • Governance, ethics and transparency; and
  • Economic viability and sustainability.

It is currently in the process of developing an up-to-date sustainability report that will provide information on material ESG issues along with considered actions plans, targets and aspirations across short, medium and long-term timeframes.

Global governance

The UN Global Charter aims to accelerate and scale the collective global impact of business in the areas of human rights, labour, the environment and anti-corruption along with taking action on the issues embodied in the 17 UN Sustainable Development Goals (SDGs).

As a member of UN Global Compact, Arafura will be required to complete detailed reporting against the governing principles and UN SDGs.

Meanwhile, the IRMA is an industry-specific initiative responding to the global demand for more socially and environmentally responsible mining.

It requires independent third-party verification and certification against a comprehensive standard for all mined materials that provides ‘one-stop coverage’ of the full range of issues related to the impacts of industrial-scale mines.

Notable members include potential NdPr oxide customers such as BMW Group, Ford Motor Company and Daimler AG.

Solar farm

The proposed solar farm is intended to significantly reduce the Nolans project’s reliance on gas for power generation.

Further planning and design of this green power facility, and other similar measures, will be outlined in the greenhouse gas emissions reduction study that is currently underway.

This study will also set interim targets on Arafura’s journey toward net zero carbon emissions.

 

 

 

This article was developed in collaboration with Arafura Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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